The OECD warned on Friday (16 March) against the European Commission’s plan to propose a new tax next week targeting digital companies, arguing that it may cause economic distortion and raise business costs.

The new legislation approved by European Parliament requires websites to sell their goods throughout the EU regardless of the country the buyer resides in. It could apply to online cultural content like music streaming and ebooks within two years. EURACTIV.fr reports

MEPs, member states and the European Commission agreed on a compromise deal to end geoblocking restrictions, a move that will force e-commerce businesses to sell to shoppers around the EU regardless of what country they live in.

Once feared as a technology that would make legal practitioners redundant, blockchain has now actually strengthened the role of notaries as interpreters of complex transactions, best illustrated by the convoluted issue of land registries.

Commissioner for Competition Margrethe Vestager said on Wednesday (27 September) that the institution would “actively monitor” a set of remedies proposed by Google to open up its shopping service to competitors as from tomorrow.

The Commission will suggest on Wednesday (20 September) alternatives to tax companies operating on Internet, including a withholding tax on online sales of non-resident companies or a levy on revenues coming from digital services or advertising, according to a document seen by EURACTIV.

A precondition for making online companies such as Amazon and Google pay taxes where they are due is to affirm the principle of "virtual permanent establishment", whereby digital firms pay taxes in countries where they have a "significant digital presence", said EU presidency holder Estonia.

Online retailers such as Amazon could come under tighter scrutiny and be forced to collect VAT from companies whose items they sell, according to new changes that EU member states made to a draft bill.